HSCM closes loan facility with White Mountains’ HG Global
Bermuda-domiciled financial services holding company White Mountains Insurance Group has announced that HG Global, its bond insurer platform, has closed a new $150m, 10-year term loan credit facility with Hudson Structured Capital Management (HSCM) and Security Benefit Life Insurance Company.
A portion of the proceeds of the loan will be used to pay a $120m dividend to White Mountains and the other equity holders of HG.
Hudson is conducting its re/insurance investment management business as HSCM Bermuda, an asset manager focused on alternative investments seeking mezzanine level returns.
Security Benefit, through its subsidiary Security Benefit Life Insurance Company - a Kansas-based insurance company that has been in business for 130 years - operates in the US retirement market.